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DEBT (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Debt | The Company’s debt consists of the following (in millions):
| September 30, 2024
| Gross Amount |  | Debt Issuance Costs |  | Original Issue (Discount) Premium |  | Net Amount
Short-term borrowings—trade receivable securitization facility | $ | 487 |  |  | $ | (1) |  |  | $ | — |  |  | $ | 486 |
Term loans | $ | 8,702 |  |  | $ | (25) |  |  | $ | (35) |  |  | $ | 8,642 |
5.50% senior subordinated notes due 2027 (“5.50% 2027 Notes”) | 2,650 |  |  | (9) |  |  | — |  |  | 2,641 |
6.75% secured notes due 2028 (“2028 Secured Notes”) | 2,100 |  |  | (15) |  |  | (8) |  |  | 2,077 |
4.625% senior subordinated notes due 2029 (“4.625% 2029 Notes”) | 1,200 |  |  | (6) |  |  | — |  |  | 1,194 |
6.375% secured notes due 2029 (“2029 Secured Notes”) | 2,750 |  |  | (22) |  |  | (1) |  |  | 2,727 |
4.875% senior subordinated notes due 2029 (“4.875% 2029 Notes”) | 750 |  |  | (4) |  |  | — |  |  | 746 |
6.875% secured notes due 2030 (“2030 Secured Notes”) | 1,450 |  |  | (12) |  |  | — |  |  | 1,438 |
7.125% secured notes due 2031 (“2031 Secured Notes”) | 1,000 |  |  | (9) |  |  | (7) |  |  | 984 |
6.625% secured notes due 2032 (“2032 Secured Notes”) | 2,200 |  |  | (20) |  |  | — |  |  | 2,180 |
6.00% secured notes due 2033 (“2033 Secured Notes”) | 1,500 |  |  | (14) |  |  | — |  |  | 1,486 |
Government refundable advances | 17 |  |  | — |  |  | — |  |  | 17 |
Finance lease obligations | 262 |  |  | — |  |  | — |  |  | 262 |
| 24,581 |  |  | (136) |  |  | (51) |  |  | 24,394 |
Less: current portion | 99 |  |  | (1) |  |  | — |  |  | 98 |
Long-term debt | $ | 24,482 |  |  | $ | (135) |  |  | $ | (51) |  |  | $ | 24,296 |
| September 30, 2023
| Gross Amount |  | Debt Issuance Costs |  | Original Issue (Discount) Premium |  | Net Amount
Short-term borrowings—trade receivable securitization facility | $ | 350 |  |  | $ | (1) |  |  | $ | — |  |  | $ | 349 |
Term loans | $ | 6,249 |  |  | $ | (22) |  |  | $ | (48) |  |  | $ | 6,179 |
6.25% secured notes due 2026 (“2026 Secured Notes”) | 4,400 |  |  | (25) |  |  | 2 |  |  | 4,377 |
7.50% senior subordinated notes due 2027 (“7.50% 2027 Notes”) | 550 |  |  | (2) |  |  | — |  |  | 548 |
5.50% 2027 Notes | 2,650 |  |  | (12) |  |  | — |  |  | 2,638 |
2028 Secured Notes | 2,100 |  |  | (19) |  |  | (10) |  |  | 2,071 |
4.625% 2029 Notes | 1,200 |  |  | (7) |  |  | — |  |  | 1,193 |
4.875% 2029 Notes | 750 |  |  | (5) |  |  | — |  |  | 745 |
2030 Secured Notes | 1,450 |  |  | (14) |  |  | — |  |  | 1,436 |
Government refundable advances | 21 |  |  | — |  |  | — |  |  | 21 |
Finance lease obligations | 193 |  |  | — |  |  | — |  |  | 193 |
| 19,563 |  |  | (106) |  |  | (56) |  |  | 19,401 |
Less: current portion | 71 |  |  | — |  |  | — |  |  | 71 |
Long-term debt | $ | 19,492 |  |  | $ | (106) |  |  | $ | (56) |  |  | $ | 19,330 |
Schedule of Term Loans | As of September 30, 2024, TransDigm had $8,702 million in fully drawn term loans (the “Term Loans Facility”), $910 million in revolving commitments, of which $843 million was available to the Company, subject to an interest rate of 2.25% per annum. As of September 30, 2023, TransDigm had $6,249 million in fully drawn term loans, $810 million in revolving commitments, of which $755 million was available to the Company, subject to an interest rate of 2.50% per annum. The unused portion of the revolving commitments is subject to a fee of 0.5% per annum for both fiscal 2024 and 2023. The total fees incurred on the unused portion of the revolving commitments were not material in fiscal 2024 or fiscal 2023.
Term Loans Facility |  | Maturity Date |  | Interest Rate under Term Loans Facility |  | Aggregate Principal as of September 30,
|  |  | 2024 |  | 2023
Tranche H (1) |  | February 22, 2027 |  | Term SOFR plus 3.25% |  | $ | — |  |  | $ | 1,713 |
Tranche I |  | August 24, 2028 |  | Term SOFR plus 2.75% |  | $ | 1,871 |  |  | $ | 4,536 |
Tranche J |  | February 28, 2031 |  | Term SOFR plus 2.50% |  | $ | 3,632 |  |  | $ | — |
Tranche K |  | March 22, 2030 |  | Term SOFR plus 2.75% |  | $ | 1,699 |  |  | $ | — |
Tranche L |  | January 19, 2032 |  | Term SOFR plus 2.50% |  | $ | 1,500 |  |  | $ | — |
(1)As previously disclosed within this note, during fiscal 2024, Tranche H was replaced by Tranche K.
Future Maturities of Long-Term Debt | At September 30, 2024, future maturities of long-term debt (excluding finance leases) are as follows (in millions), refer to Note 17, “Leases,” for future maturities of finance leases:
Fiscal Years Ended September 30, |
2025 | $ | 93 |
2026 | 92 |
2027 | 92 |
2028 | 6,637 |
2029 | 4,768 |
Thereafter | 12,637 |
Total | $ | 24,319 |

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